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September 4, 2017
mm Written by:
Ralf Ohlhausen
Business Development Director
WhopperCoin is here

Burger King has launched their own cryptocurrency called WhopperCoin, designed as a virtual wallet to allow people to collect coins on every Burger King purchase which can then be traded, saved and shared.

They are taking a bold step in adopting their own alternative payment methods, continuing their commitment to customer loyalty and are leading the way as part of a wider societal phenomenon that we are experiencing – the cashless society.

Our latest research (1) shows, that if given the option, 26 per cent of us would never choose to pay cash when buying an item in a shop and an equal percentage find it irritating when we have to pay by cash rather than by card. Physical money is fast becoming redundant in today’s increasingly connected society with a third (33 per cent) (2) of the UK stating that they never use cash anymore. The popularity of alternative payments methods, such as crypto cash demonstrates the changing payment landscape, lessening our dependency on cash.

High street brands, such as Burger King, clearly recognise the importance of offering multiple payment methods to drive customer loyalty. Cash is now seen as inconvenient in a fast adapting landscape of flexible alternative payment methods. In the digital age, cashless payment methods are king and they can be more easily combined with loyalty points or cryptocurrency tokens, as is the case here, which may even gain in value over time.

 

[1] Research by Arlington Research on behalf of PPRO Group carried out 19 – 21 April 2017 speaking to 2000 UK adults.

[2] Research by Arlington Research on behalf of PPRO Group carried out 19 – 21 April 2017 speaking to 2000 UK adults.

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Tags:
APM | trends | e-commerce | alternative payment methods | Burger King | cryptocurrency
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